Written on August 17, 2011 at 4:08 pm, by Mike Hilton
It’s hard to believe that Concur was founded 18 years ago this month. Back then, it was just Rajeev Singh and me, trying to figure out a better way to help people submit their T&E expenses for reimbursement. Fast forward to 2011, and now Concur is the unquestioned expert on all things related to T&E spend. And since T&E is the second largest area of controllable spend for most companies – right after payroll – we figured it was time that somebody released a report on all those expense reports.
So today, we released Concur’s Q2 2011 T&E Spend Report. It’s our first time creating a report like this, and it’s the first time anyone has analyzed this large of a volume of T&E spend. It’s already generating interest and conversation, and while we think there’s some fantastic information in there, we’re hoping to learn what other kinds of T&E spend data people are interested in seeing in the future. So take a look and let us know your thoughts in the comments section below.
I’m a numbers guy, so when I learned that Concur had taken a slice of its transaction data and broken out some key areas of spend, I couldn’t wait to dive in and do my own analysis. Some of the results – like the fact that average spend in many T&E categories has been trending up – weren’t completely unexpected. As the economy improves, T&E spend is often a leading indicator. But some of the other findings – like which cities are most visited, or how each category of spend ranks within that city – are pretty revealing.
But for me, the most interesting thing about looking at all this data is the realization that a significant portion of the world’s T&E spend is now processed by Concur. That gives us a unique perspective in understanding what’s driving spending trends and which areas of spend are emerging, decreasing or remaining flat. As Raj says, “…we hope to provide insight to corporations, suppliers and business travelers alike, to help them make more informed decisions, create greater value and drive down costs.”
I encourage you to download the report and let us know what you think. I’m hoping this will be the first of many such reports that we’ll be sharing with you. One thing you can be sure of – if it involves T&E spend, Concur will be all over it.